Economy
General government primary cash surplus expands to 3.9 bln by August, arrears drop further to 6.3 bln
Greece’s general government (gg) primary cash surplus expanded by 1.33 billion to 3.9 billion in the 8-month period of 2016 from 2.56 billion in the corresponding period last year, the Finance Ministry (MoF) gg bulletin showed on Wednesday.
IMF sees primary surplus of 0.7 pct of GDP in 2017, debt ratio peaking at 184.7 pct
Following the release of its World Economic Outlook (WEO) on Tuesday, including its updated macro forecasts on Greece, the International Monetary Fund published on Wednesday its Fiscal Monitor report outlining its fiscal estimates.
Revenues spring surprise by beating Sep target, providing 1.4 bln cushion for Q4
The Greek Finance Ministry announced ahead of schedule on Tuesday afternoon the revenue evolution for September, which showed a notable outperformance against the targets.
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF upgrades Greece’s GDP and unemployment rate estimates
In its latest World Economic Outlook (WEO) published on Tuesday, the International Monetary Fund was upbeat in its estimates regarding Greece’s GDP and unemployment rate, upgrading its previous forecasts released on April 12.
Broadly stable rate in time deposits, corporate loan rates fall in Aug
Greek households’ new time deposit rate edged up by 1 basis point (bp) to 0.87 percent in August from 0.86 percent in the previous two months, Bank of Greece (BoG) data displayed on Tuesday.
Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
The Finance Ministry (MoF) tabled in Parliament’s Economic Affairs Committee on Monday the 2017 draft budget, which contains its fiscal estimates and the interventions needed to achieve them, as well as the underlying macro assumptions.
PMI slips to contraction territory in September on lower production and new orders
Greece’s Manufacturing PMI fell by 1.2 points to 49.2 in September from 50.4 in August, Markit survey displayed on Monday. This was the sixth sub-50 reading in the course of 2016.
Greek stocks drop 1.5 pct during week, banks post losses of 7.7 pct
The Greek equity market edged down 1.5 percent this week, amid lack of investor interest, after a brief rebound of 2.6 percent last week.
EYDAP increases gross profits by 8.5 percent in H1
The Athens Water Supply and Sewerage Company (EYDAP) has delivered an improved set of H1 results.
Wise men proposals on labour market reforms give Ministry bargaining basis with lenders
The Labour Ministry published on Friday the recommendations of the international committee of experts’ report on labour issues. These include the committee’s conclusions on trade unions, mass layoffs, minimum wage and collective bargaining.